MILLIRE 2021 ANNUAL REPORT

The accompanying notes are an integral part of these consolidated financial statements. Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) Note Audited Current Period January 1- December 31, 2021 Audited Prior Period January 1- December 31, 2020 A. CASH FLOWS FROM THE OPERATING ACTIVITIES 1. Cash inflows from the insurance operations 12.556.394.241 8.501.356.425 2. Cash inflows from the reinsurance operations 1.832.419.517 2.481.101.399 3. Cash inflows from the pension operations - - 4. Cash outflows due to the insurance operations (-) (11.191.615.181) (8.608.720.004) 5. Cash outflows due to the reinsurance operations (-) (2.028.870.702) (1.412.035.194) 6. Cash outflows due to the pension operations (-) - - 7. Cash generated from the operating activities (A1+A2+A3-A4- A5-A6) 1.168.327.875 961.702.626 8. Interest payments (-) - - 9. Income tax payments (-) (254.109.525) (244.546.962) 10. Other cash inflows 275.003.722 2.464.364.023 11. Other cash outflows (-) (975.802.664) (736.369.250) 12. Net cash generated from the operating activities 213.419.408 2.445.150.437 B. CASH FLOWS FROM THE INVESTING ACTIVITIES - - 1. Sale of tangible assets 5.672.626 537.867 2. Purchase of tangible assets (-) 6, 8 (158.144.061) (81.245.875) 3. Acquisition of financial assets (-) 11 (16.378.013.829) (5.564.477.476) 4. Sale of financial assets 11 16.351.387.241 3.292.878.047 5. Interest received 1.241.954.320 645.351.191 6. Dividends received 4.069.234 1.285.103 7. Other cash inflows 5.092.058.271 1.349.301.599 8. Other cash outflows (-) (5.951.250.709) (1.790.809.952) 9. Net cash generated from the investing activities 207.733.093 (2.147.179.496) C. CASH FLOWS FROM THE FINANCING ACTIVITIES - - 1. Issue of equity shares - - 2. Cash inflows from the loans to policyholders - - 3. Payments of financial leases (-) - - 4. Dividend paid (-) (111.290.535) (100.618.350) 5. Other cash inflows - - 6. Other cash outflows (-) - - 7. Cash generated from the financing activities (111.290.535) (100.618.350) D. EFFECTS OF EXCHANGE RATE DIFFERENCES ON CASH AND CASH EQUIVALENTS 456.327.257 (47.427.825) E. Net increase/(decrease) in cash and cash equivalents (A12+B9+C7+D) 766.189.224 149.924.766 F. Cash and cash equivalents at the beginning of the period 14 3.871.356.155 3.721.431.389 G. Cash and cash equivalents at the end of the period (E+F) 14 4.637.545.379 3.871.356.155 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2021 180 MİLLÎ REASÜRANS ANNUAL REPORT 2021 ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES